Is Your Manager a Coward?

Is Your Manager a Coward?

Does this sound familiar?

Unfortunately, I see this today in the Accounting industry much more than I saw it as a young engineer in the Construction industry. Good insights from Liz, though:

I’ve been to hundreds of leadership workshops. Very seldom if ever do we talk about managerial integrity.

We don’t talk about how easy it is to knuckle under and go along with whatever the higher-up bosses tell us to do, and how hard it is to tell the truth in the moment. That’s the most important part of being a manager!

It’s easy to wimp out and implement a policy that a higher-up manager gives you to follow, even if the policy makes no sense and will ultimately hurt your business. It’s easier to go along, but it’s wrong. It’s cowardly.

If you work for a cowardly manager, you’re in the wrong job. You can complain to your spouse or your cat about your bad situation at work, but the responsibility to fix it lies with you.

You have to get a new job or take on the thankless task of helping your manager see how his or her cowardly ways are hurting your team, your company, the company’s customers and shareholders and your manager him- or herself.

The first step is to see that you’re spinning your wheels working for a wimpy manager whose ethical compass is out of whack. Here are the signs (using masculine pronouns for readability):

Five Signs Your Manager Is a Coward

If It Comes from Above, I’m Good with It

He Apologizes for Wimping Out, Even While He’s Doing It

He Tells Everybody What They Want to Hear

I’m Not Risking Political Capital for Anyone!

He’ll Throw You or Anyone Under the Bus

Remember that only the people who get you, deserve you. Why not go find the people who get you, starting right now?

About Brian Lefever

As VP of Operations - Brian is responsible for continuous product development for Titan Echo. Proudly engineering a simple and cost effective solution for CPAs to provide Cost Segregation benefits to their clients.

Search Site

The third piece of Cost Seg is Legal Analysis. Once Echo has the costs for all the items, it needs to evaluate each item under the current Cost Seg body of law. This process without a doubt is vital and quite complicated. Although it has evolved, there is conflict in the law, it’s a little dicey.

Echo has to leverage court cases against the facts and circumstances of your property, to determine which items can be reclassified from Section 1250 real property to Section 1245 personal property.

Then it applies what’s called the MACRS Asset Classification System accordingly. Then Echo can recompute depreciation based on each item’s life, method and convention, and calculate that catch-up depreciation, if available.

Ultimately, Echo will be able to complete the complicated tax Form 3115 – Change in Accounting Method to be included in the owner’s next tax return.

[ CLOSE WINDOW ]

Learn More: Construction Cost Estimating

The second step in Cost Seg is Construction Cost Estimating (CCE). Echo is going to review the supporting documents you gather – and extract any pertinent project data. Echo then does quantity takeoffs from the drawings (if you have any) – and your pictures from the field.

In the CCE step – Echo’s construction cost analysis is going to use your submitted info to build up the cost to re-build the building submitted. If you built the building (or you have actual costs) Echo will use that data, but if you don’t, we’ll rely on our database of national construction cost data.

Echo has the construction experience to determine what it would cost to build that building today, as it sits when you did the OSV. This concept is called “Reconstruction Cost New”, or “RCN”. This is a very important legal concept. There are consultants out there that don’t do it right. They do not account for all the pieces and parts of the project. They only account for the items that they believe can be reclassified as personal property.

However, until you gain ALL of the pieces – including the total cost (RCN) – and then pro-rate all these costs so it adds up to what the investor actually paid for it – you don’t really know what the cost of the these personal property items actually is. So once Echo has the RCN – we will do the proration – so that everything ties out of the basis of the building that’s currently on the Fixed Asset Schedule.

[ CLOSED WINDOW ]

Learn More: Legal Analysis

Echo has to leverage court cases against the facts and circumstances of your property, to determine which items can be reclassified from Section 1250 real property to Section 1245 personal property.

Then it applies what’s called the MACRS Asset Classification System accordingly. Then Echo can recompute depreciation based on each item’s life, method and convention, and calculate that catch-up depreciation, if available.

Ultimately, Echo will be able to complete the complicated tax Form 3115 – Change in Accounting Method to be included in the owner’s next tax return.

In the CCE step – Echo’s construction cost analysis is going to use your submitted info to build up the cost to re-build the building submitted. If you built the building (or you have actual costs) Echo will use that data, but if you don’t, we’ll rely on our database of national construction cost data.

Echo has the construction experience to determine what it would cost to build that building today, as it sits when you did the OSV. This concept is called “Reconstruction Cost New”, or “RCN”. This is a very important legal concept. There are consultants out there that don’t do it right. They do not account for all the pieces and parts of the project. They only account for the items that they believe can be reclassified as personal property.

However, until you gain ALL of the pieces – including the total cost (RCN) – and then pro-rate all these costs so it adds up to what the investor actually paid for it – you don’t really know what the cost of the these personal property items actually is. So once Echo has the RCN – we will do the proration – so that everything ties out of the basis of the building that’s currently on the Fixed Asset Schedule.